Hi,
The Domain auction clearance rate dipped last weekend to 66% as auction numbers continue to rise in Melbourne leading into Christmas. Of 1,147 auctions reported to Domain, 752 sold, 266 passed in and 129 were withdrawn.
Whilst the clearance rate has dropped, Melbourne has experienced the most new listings to hit the property market since the highest level recorded in November 2021. Rising property prices in 2025 have encouraged some vendors to put their properties on the market.
Whilst buyers are motivated and confident to buy, many are still happy to hold off until the right property comes along. There isn’t a lot of ‘FOMO – fear of missing out’ in the market and that is mostly due to interest rates stabilising and not continuing to fall. Many selling agents across Melbourne are reporting that they still feel the property market is still ‘patchy’. That being said, properties that have been marketed and priced well are generally still attracting strong competition at auction.
This week will likely be the last week of new auction campaigns being released (a handful may launch next week) and then the odd private sale campaign will be launched before the property market virtually shuts down just before Christmas Day. Selling agents will be working hard to sell all their stock prior to Christmas and this is the time that vendors are likely to reduce their price expectations in order to have their property sold before the Christmas break.
Have a great week
Kim Easterbrook – Managing Director
